Smart Agriculture Market Size Worth $35.98 Billion by 2030: Grand View Research, Inc.

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Apr 21, 2022, 06:20 ET

SAN FRANCISCO, April 21, 2022 /PRNewswire/ -- The global smart agriculture market size is anticipated to reach USD 35.98 billion by 2030, expanding at a CAGR of 10.8% during the forecast period, according to a new report by Grand View Research, Inc. Factors such as consistent growth in population, low availability of cultivable land, government incentives, and demand for fresh and high-quality food are expected to drive the smart greenhouse market.

Key Insights & Findings from the report:

The software segment is expected to portray the highest growth rate, registering a CAGR of 13.5% during the forecast period.
The LED grow light segment is anticipated to witness a considerable growth rate during the forecast period.
The yield monitoring segment held a market share of 44.09% in 2021. This can be attributed to the growing need to provide timely water and minerals and monitor crop growth.
North America led the global smart agriculture market with a share of 45.09% in 2021. Growing government initiatives and regulations to enhance agriculture in the region are expected to drive regional demand in North America throughout the forecast period.

Read 150-page market research report, "Smart Agriculture Market Size, Share & Trends Analysis Report By Type (Precision Farming, Livestock Monitoring, Smart Greenhouse, Others), By Application, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Smart Agriculture Market Growth & Trends

According to the World Health Organization (WHO) and Population Council, 80% of the global population resides in urban cities. The prevailing scarcity of land in urban cities has urged growers to adopt new solutions for developing fresh produces. For instance, the vertical farming technique enables consumers to grow crops indoors in layers, in a multi-story building, stacked on racks, or in a warehouse.

The growing population is expected to result in increased food demand by 2050. Farmers are likely to witness immense pressure in increasing crop production, either by making more land available to grow crops or by adopting newer techniques, such as smart agriculture and vertical farming. Traditional farming techniques witness several barriers, such as climate change and high labor costs. These disadvantages can be overcome with the use of technologies such as LED indoor farming, which creates a nature-like condition to help farmers meet the swelling food demand. Additionally, the changing preference of consumers toward healthier and fresh foods is expected to drive market growth during the forecast period.

Agri M2M offers significant opportunities to mobile operators owing to its potential to generate additional revenue through value-added services. For instance, bundling M2M services with a voice or data offering for rural enterprise customers is likely to enhance the application of M2M. Agri VAS has been developed to overcome the information gap faced by farmers in emerging markets, such as China and India. Additionally, it also helps in connecting the cultivators with other key players in the agriculture supply chain. Agriculture Value Added Services (VAS) have increased over the past few years owing to their rising awareness among VAS providers, mobile operators, and farmers. A few types of M2M connectivity include cellular M2M, satellite & fixed network, power line, and short-range connections such as Wi-Fi, Ethernet, and ZigBee.

Smart Agriculture Market Segmentation

Grand View Research has segmented the Smart Agriculture market based on offering, application, and regions

Smart Agriculture Type Outlook (Revenue, USD Million; 2017 - 2030)

Precision farming
Livestock monitoring
Smart greenhouse
Others

Smart Agriculture Market - Offering Outlook (Revenue, USD Million; 2017 - 2030)

Hardware

Automation & control systems

Drones
Application control devices
Guidance system

Remote sensing

Handheld
Satellite sensing

Driverless tractors
Mobile devices
VRT

Map-based
Sensor-based

Wireless modules

Bluetooth technology
Wi-Fi technology
Zigbee technology
RF technology

Milking robots

Sensing devices

Soil sensor

Nutrient sensor
Moisture sensor
Temperature sensor

Water sensors
Climate sensors
Others

HVAC system
LED grow light
RFID tags & readers

Software

Web-based
Cloud-based

Services

System integration & consulting
Maintenance & support
Managed services

Data services
Analytics services
Farm operation services

Assisted professional services

Supply chain management services
Climate information services

Smart Agriculture Market - Application Outlook (Revenue, USD Million; 2017 - 2030)

Precision farming application

Yield monitoring

On-farm
Off-farm

Field mapping
Crop scouting
Weather tracking & forecasting
Irrigation management
Inventory management
Farm labor management

Livestock monitoring application

Milk harvesting
Breeding management
Feeding management
Animal comfort management
Others

Smart greenhouse application

Water & fertilizer management
HVAC management
Yield monitoring
Others

Smart Agriculture Market - Regional Outlook (Revenue, USD Million; 2017 - 2030)

North America

U.S.
Canada
Mexico

Europe

Germany
U.K.
France
Netherlands
Russia

Asia Pacific

China
India
Japan
Australia
Singapore

South America

Brazil

Middle East & Africa

Turkey

List of Key Players in Global Smart Agriculture Market

Ag Leader Technology
AGCO Corporation
AgJunction, Inc.
AgEagle Aerial Systems Inc.
Autonomous Solutions, Inc.
Argus Control Systems Ltd
BouMatic Robotic B.V.
CropMetrics
CLAAS KGaA mbH
CLAAS KGaA mbH
CropZilla
Deere & Company
DICKEY-john
DroneDeploy
DeLaval Inc
Farmers Edge Inc
Grownetics, Inc.
Granular, Inc.
Gamaya
GEA Group Aktiengesellschaft
Raven Industries
SST Development Group, Inc
Trimble Inc.
The Climate Corporation
Topcon

Check out more related studies published by Grand View Research:

Agriculture Drone Market - The global agriculture drone market is expected to reach USD 3,770.0 million by 2024, according to a new report by Grand View Research, Inc. The increasing technological advancements in equipment and for enhancing the quality of the farming techniques have led to the increased implementation of agriculture drones in the market.
Artificial intelligence in Agriculture Market - The global artificial intelligence in agriculture market size is expected to reach USD 2.9 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 25.4% from 2019 to 2025.
Precision Farming Market - The global precision farming market size is anticipated to reach USD 20.84 billion by 2030. The growth of precision agriculture is attributed to the burgeoning proliferation of the Internet of Things (IoT) along with the use of advanced analytics by farmers.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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